bunq - bank of The Free (2024)

FAQs

How trustworthy is bunq? ›

1) With a proper banking license🏦

We operate under a full European banking license given by the Dutch National Bank (DNB). This means that we have a Deposit Guarantee Scheme (DGS), which insures up to €100,000 of your money.

Bunq is among the largest neobanks in Europe, with a user base of around 11 million. It achieved unicorn status – a private company valued at $1bn or more – in 2021.

As of January 2024, bunq offers one of the highest interest rates on savings accounts for no fee. Creating a savings account at bunq bank is free and can even be done on an "Easy Investments" account without a monthly subscription cost.

Recognized for our entrepreneurial spirit, we became the first bank in 35 years to receive a European banking license.

Thanks to our European banking license given by the Dutch National Bank (DNB), all deposits from verified users are automatically insured up to €100,000 by the Dutch Deposit Guarantee Scheme (DGS). In the unlikely event of anything happening to bunq, you can rest assured your money is safe.

The first €100 deposited each (billing) month is free, then there's a 2,5% fee on the total amount above that. You'll be charged this in your monthly invoice.

At bunq, we're dedicated to supporting members of the LGBTQIA+ community in their fight for equal treatment, opportunities and rights. We stand alongside all the trailblazers and organizations that've achieved so much for the community, and we continue to be inspired by them every single day.

At bunq, we are a leading sustainable finance company. We can help you to embrace ethical investment by investing only in green companies. Sign up and enjoy a free 30 day trial.

bunq has a very simple business model, based on earning revenue from service fees, as opposed to traditional banks that make a living based on interest spread and many other fees.

With bunq, you can get up to 6 free ATM withdrawals anywhere in the world.

Does bunq have a monthly fee? ›

Get Easy Bank for €3.99 per month. Everything you expect from a mobile bank, and more. Open your fully fledged bank account in just 5 minutes. Try it for free for a full month, no strings attached!

Bunq still needs a valid form of identification, otherwise you're not allowed to open a bank account, unfortunately.

Bunq doesn't offer loans.

We integrated Wise into your bunq app so you can easily make and receive bank transfers in over 40 different currencies. No faff, just super simple transfers, right from the app.

All citizens of the European Economic Area that are residents in the countries that we operate (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Lichtenstein, Luxembourg, Malta, the Netherlands, Norway, Portugal, Romania, ...

At bunq, we believe in transparency, sustainability, and giving our users the freedom to choose where their money goes. With 73% of millenials willing to pay more for ethical and sustainable products, it's clear that consumers are looking for a change. And that's exactly what we're here to provide.

Revolut may be more attractive to frequent travelers and those who frequently use foreign currencies, while Bunq may be a better fit for European residents looking for a more sustainable banking experience and local services.

For instance, bunq is a fully licensed European bank and adheres to strict security measures to ensure your money and personal information are protected.

We have some great news for you! As of December 1, 2022, bunq will no longer be charging any safekeeping fees at all!